PerkinElmer to Acquire VisEn Medical, Inc.
WALTHAM, Massachusetts - PerkinElmer, Inc. (NYSE: PKI), a global leader focused on the health and safety of people and the environment, today announced that it has acquired VisEn Medical, Inc., an in vivo molecular imaging technology company based in Bedford, Massachusetts.
The acquisition enables PerkinElmer to enhance its cellular imaging business, by expanding the Company's technologies and capabilities downstream into preclinical research undertaken in academic institutes and pharmaceutical companies. VisEn's proprietary fluorescence molecular imaging systems and reagents are currently used in applications involving research into cancer, inflammation, cardiovascular, skeletal and pulmonary diseases.
"We are very pleased to bring VisEn into the PerkinElmer organization," said Richard Eglen, president, Bio-discovery, PerkinElmer. "VisEn provides a compelling offering in molecular imaging platforms and tools that are synergistic with PerkinElmer's existing business. This acquisition broadens our product portfolio along the drug discovery pipeline, from basic disease-based research to preclinical drug discovery applications, through the addition of proprietary chemistries in the emerging and fast growing space of translational biomarker reagents."
He added, "This acquisition will advance further PerkinElmer's mission to assist life sciences and pharmaceutical research in finding additional ways to develop new generations of safer and more effective drugs, as well as better diagnostic capabilities."
The VisEn offering includes its Fluorescence Agent Portfolio and its Fluorescence Molecular Tomographic (FMTTM) Imaging Systems. These technologies provide quantitative molecular imaging data that can be useful for identifying and characterizing a range of disease biomarkers and therapeutic efficacy in cells and animal models. This cellular imaging approach, combined with PerkinElmer technologies, can enable better screening and optimization of potential new drugs, through translational biomarker research. This can provide an increased correlation of isolated cellular activity with in vivo biological activity, which will allow researchers to get closer to understanding human responses and thereby develop better potential therapies.
Founded in 2000 by Ralph Weissleder and Kirtland Poss, VisEn's customer base includes academic imaging facilities and departments, biologists, radiologists, medical imaging facilities (combined with CT/MRI/Ultrasound), pharmaceutical therapeutic research departments, and contract research organizations (CROs). Additionally, VisEn collaborates with pharmaceutical companies to design custom molecular imaging reagents and applications for specific preclinical and clinical research areas.
Factors Affecting Future Performance
This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities. Words such as "believes," "intends," "anticipates," "plans," "expects," "projects," "forecasts," "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products decline or do not grow as anticipated; (2) fluctuations in the global economic and political environments; (3) our failure to introduce new products in a timely manner; (4) our ability to execute acquisitions and license technologies, or to successfully integrate acquired businesses and licensed technologies into our existing business or to make them profitable; (5) our failure to adequately protect our intellectual property; (6) the loss of any of our licenses or licensed rights; (7) our ability to compete effectively; (8) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (9) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (10) disruptions in the supply of raw materials and supplies; (11) the manufacture and sale of products may expose us to product liability claims; (12) our failure to maintain compliance with applicable government regulations; (13) regulatory changes; (14) our failure to comply with healthcare industry regulations; (15) economic, political and other risks associated with foreign operations; (16) our ability to retain key personnel; (17) significant disruption in our information technology systems; (18) restrictions in our credit agreements; (19) our ability to realize the full value of our intangible assets; (20) significant fluctuations in our stock price; (21) reduction or elimination of dividends on our common stock; and (22) other factors which we describe under the caption "Risk Factors" in our most recent annual report on Form 10-K and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release.
About VisEn Medical Inc.
VisEn’s in vivo fluorescence imaging technologies, including its Fluorescence Agent Portfolio and its Fluorescence Molecular Tomographic (FMTTM) Imaging Systems provide robust fluorescence molecular imaging performance in identifying, characterizing and quantifying ranges of disease biomarkers and therapeutic efficacy in vivo. VisEn’s FMT systems and agents are used by leading research institutions and pharmaceutical companies in applications including cancer research, inflammation, cardiovascular, skeletal and pulmonary disease. The Company also works with large pharmaceutical partners to design ranges of tailored molecular imaging agents and applications that are designed to their specific pre-clinical and clinical research areas.
Additional information can be found at www.visenmedical.com.
About PerkinElmer, Inc.
PerkinElmer, Inc. is a global leader focused on improving the health and safety of people and the environment. The company reported revenue of approximately $1.8 billion in 2009, has about 8,800 employees serving customers in more than 150 countries, and is a component of the S&P 500 Index. Additional information is available through 1-877-PKI-NYSE, or at www.perkinelmer.com.
David C. Francisco
Stephanie R. Wasco